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Both the EURUSD and USDJPY showed impulsive price action last week and seem destined to continue with that bearish USD momentum. The GBPUSD is in a contracting triangle chart pattern but which side will see a break? And the AUDUSD shows double divergence and a pending r
...The EUR/USD is approaching horizontal resistance levels from the daily chart (red) around the psychological round level of 1.15. The recent bullish momentum is most likely a wave A (blue) of a bigger ABC zigzag.
The EUR/USD showed a bearish impulse
...The EUR/USD showed more bullish momentum yesterday and has reached the 50% Fibonacci target. A bigger resistance zone could be at 1.15 where a 61.8% Fibonacci target and resistance trend lines are aligned.
The EUR/USD completed a shallow ABC bearish
...The EUR/USD has continued with its bullish moment yesterday but did post a doji recently, which is showing indecision at these levels of resistance (previous tops). A wave A (blue) could have been completed and a retracement for a wave B (blue) is possible
...The EUR/USD has continued with its breakout above the resistance (dotted red) trend line yesterday. A strong bullish 4 hour candle could indicate more bullishness later today or this week.
The EUR/USD's impulsive move up has been marked as a wave 3
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